RESUME Financial results (figures for the corresponding period in 2016 are given in parenthesis). Revenue from the railway: DKK 20 million (DKK 25 million). As part of the adoption of the Finance Act 2017, the fees for the rail companies’ use of the Øresund railway line were reduced. Operating expenses: DKK 20 million (DKK 15 million). The increase can primarily be attributed to A/S Øresund assuming responsibility for maintenance and reinvestments for the Øresund railway line from Banedanmark with effect from 1 September 2015. Depreciation: DKK 85 million (DKK 54 million). The increase over the period is in part due to the completed reinvestments on the Øresund railway line and in part to the further division of the road and rail facility, which took place at the end of 2016. EBIT amounts to a loss of DKK 84 million (loss DKK 42 million). Interest expenses DKK 45 million (DKK 34 million). The increase can be attributed to higher inflation. Value adjustments: income DKK 251 million (expense DKK 458 million). This includes the fair value adjustment of net financials at an expense of DKK 252 million. Fair value adjustments are an accounting item with no effect on the company’s debt repayment because the debt is repaid at nominal value. The share from Øresundsbro Konsortiet I/S’ result is an income of DKK 192 million (expense DKK 77 million). Øresundsbro Konsortiet I/S’ result is affected by a rise in road revenue of 1.5 per cent, which can primarily be explained by growth in traffic of 3.1 per cent (not adjusted for the leap year day, traffic growth amounts to 1.9 per cent). In addition, the result is affected by higher interest expenses and positive value adjustments of DKK 175 million (negative DKK 367 million) of which half is included in the company’s share of the results. The result before value adjustments and tax is a loss of DKK 24 million, including the share of the profit in Øresundsbro Konsortiet I/S (share of profit DKK 105 million). Tax constitutes an expense of DKK 69 million (income DKK 134 million). Changes in relation to the same period in 2016 are solely related to changes in the results. The result after tax is a profit of DKK 245 million (loss DKK 476 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in a net rise in liquidity of DKK 218 million. Cash flow from financing activities has resulted in a net rise in liquidity of DKK 1 million whereby the company’s cash at bank and in hand for the period saw a net increase of DKK 219 million. Outlook for 2017 The outlook before financial value adjustments and tax remains unchanged at a neutral result. Of this, the share of the result from Øresundsbro Konsortiet I/S is a profit of approximately DKK 530 million. Page 2/10 22 May 2017
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